Maplebear (NASDAQ:CART) CAO Lisa Blackwood-Kapral Sells 3,017 Shares of Stock

Maplebear Inc. (NASDAQ:CART) CAO Lisa Blackwood-Kapral sold 3,017 shares of Maplebear stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $47.08, for a total value of $142,040.36. Following the completion of the sale, the chief accounting officer directly owned 37,715 shares of the company’s stock, valued at $1,775,622.20. This trade represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Maplebear Stock Down 3.0%

CART stock opened at $45.43 on Friday. Maplebear Inc. has a twelve month low of $32.73 and a twelve month high of $52.68. The company has a market cap of $10.52 billion, a P/E ratio of 24.83, a PEG ratio of 0.91 and a beta of 0.80. The business has a fifty day moving average of $47.98 and a 200-day moving average of $43.52.

Maplebear (NASDAQ:CART) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Maplebear had a return on equity of 20.19% and a net margin of 11.97%.The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. Maplebear’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Maplebear Inc. will post 2.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on CART. Oppenheimer raised their price objective on shares of Maplebear from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Cantor Fitzgerald increased their price target on Maplebear from $56.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Wedbush assumed coverage on Maplebear in a research report on Thursday, July 16th. They issued an “outperform” rating and a $59.00 price target on the stock. Guggenheim upped their price objective on Maplebear from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $60.00 target price on shares of Maplebear in a research note on Monday, June 15th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Maplebear currently has a consensus rating of “Moderate Buy” and an average target price of $56.14.

Hedge Funds Weigh In On Maplebear

A number of hedge funds and other institutional investors have recently made changes to their positions in CART. PNC Financial Services Group Inc. boosted its holdings in shares of Maplebear by 7.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,134 shares of the company’s stock valued at $276,000 after buying an additional 427 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Maplebear by 8.7% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,450 shares of the company’s stock worth $242,000 after acquiring an additional 514 shares during the period. Versant Capital Management Inc raised its holdings in shares of Maplebear by 94.7% during the second quarter. Versant Capital Management Inc now owns 1,215 shares of the company’s stock worth $58,000 after acquiring an additional 591 shares during the period. Parallel Advisors LLC lifted its position in Maplebear by 2.1% in the 4th quarter. Parallel Advisors LLC now owns 31,103 shares of the company’s stock valued at $1,399,000 after acquiring an additional 626 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Maplebear by 2.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 29,359 shares of the company’s stock valued at $1,100,000 after acquiring an additional 626 shares in the last quarter. 63.09% of the stock is owned by institutional investors.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, operates an online grocery marketplace that connects consumers with retailers and personal shoppers. Through its website and mobile applications, customers can browse products from participating grocery stores, place orders for delivery or pickup, and receive updates throughout the shopping and fulfillment process.

The company provides retailers with technology and services supporting e-commerce, fulfillment, customer engagement and digital advertising.